Billionaire Mukesh Ambani has bought Britain’s iconic country club and luxury golf resort, Stoke Park, for 57 million pounds which almost ₹592 crores in Indian currency. The acquisition improves Reliance’s current stake in Oberoi hotels and hotel residences in Mumbai that it is in the process of development.
In the last four years, Reliance has made an announcement of USD 3.3 billion in achievements with 14 percent in retail, 80 percent in the technology, media, and telecom (TMT) sector, and 6 percent in energy.
Notably, the UK-based firm, which holds a hotel and golf course in Buckinghamshire, UK, will be an addition to Reliance’s consumer and hospitality assets. This was said by the firm in a filing late on Thursday.
It said, “Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of Reliance Industries Limited, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for 57 million pounds.”
Stoke Park Limited manages as well as owns sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities involve a hotel, conference facilities, sports facilities, and one of the highest-rated golf courses in Europe.
Reliance said, “RIIHL will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations.” This achievement will be an addition to the consumer and hospitality footprint of the oil-to-telecom conglomerate.
The group already has investments in EIH Ltd (Oberoi Hotels) and is now developing state-of-the-art convention center, hotels, and managed residences in BKC Mumbai.
However, it is the second major acquisition of an iconic British company by billionaire Ambani. He bought British’s iconic toy store Hamleys in 2019, to strengthen its retail footprint.
Always, Stoke Park has a close relationship with Pinewood Studios and the British film industry. Two James Bond movies — Goldfinger (1964) and Tomorrow Never Dies (1997) were filmed at Stoke Park. The epic duel between James Bond (Sean Connery) and Goldfinger (Gert Frobe) is still reflected to be the most famous game of golf in cinematic history, the Park stated on its website.
Scenes like mini-break and rowing scenes from Bridget Jones’s Diary (2001) starring Hugh Grant, Renee Zellweger, and Colin Firth were also filmed at the estate with the Georgian-era mansion established in the midst of 300 acres of parkland.
Stoke Park has around 49 luxury bedrooms and suites, along with a 27-hole golf course, 13 tennis courts, and 14 acres of private gardens.
Although the Stoke Park estate has a recorded history of over 900 years, it was used as a private residence until 1908, according to its official website.
Mayer Brown International LLP and Khaitan & Co acted as legal counsels for the transaction, and Ernst & Young UK advised on financial and tax matters.